My client wants to fund £100,000 of school fees for his Grandchildren. This will be an up front lump sum "payment" and will cover fees for 3 years.
Ignoring the £3,000 exemption, I am struggling to ascertain whether the HMRC will deem this to be a "Gift" (PET or otherwise), or whether it would be "exempt", perhaps on the basis that the donee's estate has not increased.
Essentially, we need to know whether this is exempt for IHT or not?
Thanks
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